If UBS Moves Back To NYC, Stamford, CT Will Be "Ghost Town"

A trading floor the size of many football fields

Because the most talent bankers apparently would rather live in New York City than Connecticut, the Swiss banking firm UBS is considering moving from its massive Stamford, CT headquarters back to the Big Apple. As UBS negotiates a deal at to-be-built 3 World Trade Center, a Stamford man who sells "'a whole lot' of brown-bagged bottles of liquor to UBS employees every evening," tells the NY Times, "You couldn’t pay me to work at a World Trade Center tower. Have they forgotten about 9/11?"

The man, Peter Charpentier, continued, "The State of Connecticut should be begging them to stay. I’m a man who believes in trickle-down economics. You take away UBS and it affects everything and everybody. What happens to all the restaurants? How about the window washers? The elevator operators? The janitors, the gardeners? It would be disastrous." A restaurant owner also says the town will become a "ghost town." But one UBS employee/Manhattan resident loves the idea, "The train ride is like 45 minutes, then I ride my bike through Central Park to get home. If UBS moves back to Manhattan, I’ll save $300 a month in train fare and major aggravation. Awesome."

As for what to do with the huge trading floor—the size of at least two football fields with 103,000 square fee and 40-foot high ceilings—some City Room readers have suggested turning it into a bicycle velodrome, a casino and a skatepark.

Contact the author of this article or email tips@gothamist.com with further questions, comments or tips.

By Jen Chung in News on June 10, 2011 4:30 PM

Comments [rss]

Ian MacAllen

The vacancy of those offices will likely temporarily depreciate the value of commercial rents in Stamford. But the suburban office parks in surrounding communities should be more concerned. With a rail station and centralized downtown, Stamford is set to capitalize on the trend of moving towards urban commercial centers. UBS's departure will free up the office space for companies that would otherwise be in the suburbs and can't afford Manhattan.

ann0yed

ya, a velodrome is what everyone needs

Phil Ryan

Not sure about anyone else but I'd much rather work in WTC than Stamford.

SonnyBobiche

That's a long walk to the rest room.

Daniel

I think they instituted the mandatory use of colostomy bags to boost productivity as recommended by consultants.

whatidsay

Not for nothing, but I've seen homeless shelters that are more inviting than that place. Just because they trade stocks shouldn't mean that they have to work in a stockyard.

ijustsaid

So that huge new RBS doesn't count?

Daniel

The whole reason they moved there to begin with was it was a complete gimmick as an excuse for management who lived in West Chester and Conn to be closer to their homes and to avoid city taxes.

SonnyBobiche

World turned upside down. NY elected a governor who doesn't want to raise taxes while CT elected one that has decided to raise them. Of course, the only way that CT will woo UBS will be by promising them more tax breaks. Funny how that works.

whitecastlerock

Stamford sucks...

Jibreel K Riley

now the rent will really be too damn high

onsugarhill

Wow - that looks like a terrible working environment. I'd read in multiple places about the huge trading floor; thanks for sharing a picture!